Business Standard

Himachal govt notifies implementation of old pension scheme from Apr 1

The decision would benefit both serving and retired employees and the employees with 20 years of service or more would get 50 per cent of basic salary and DA as pension

Photo: Shutterstock

Photo: Shutterstock

Press Trust of India Shimla

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The Old Pension Scheme (OPS) would be restored from April 1, 2023 in Himachal Pradesh, benefitting 1.36 lakh employees who will no longer be required to faced deductions under the National Pension Scheme (NPS).
A notification regarding implementation of the OPS was issued by the Chief Secretary on Monday. It said according to the cabinet decision for implementation of the old pension scheme, the contributions of the state government employees (employee's and employer's share) covered under the National Pension System shall be stopped with effect from April 1, 2023.
Restoration of OPS was one of the main promises made by the Congress in the 2022 assembly polls and a decision in this regard was taken at the first meeting of the Cabinet on January 13, 2023.
The decision would benefit both serving and retired employees and the employees with 20 years of service or more would get 50 per cent of basic salary and DA as pension.
The OPS was stopped from January 2004 and the employees joining the service after January 1, 2004 were covered under the NPS.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Apr 17 2023 | 11:20 PM IST

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